Arsenal also loaned midfielder Mark Randall to Burnley in 2008 where he made 20 league appearances, but the youngster has not established himself in Wenger's first-team plans.

A move for Wilshire is one of the few deals Wenger expects to be presiding over in a January transfer window which, he warned, would be anything but busy.

"People don't realise there is no money in football, in Europe and in general," explained the Frenchman. "We live in dreamland in football.

"If you look at the number of clubs who struggle in the Premier League and in the Championship in England then it's time for us to get a wake-up call.

"In England, in football, the financial situation overall is very poor. So do not expect a very busy transfer market.

"We found (Andrey) Arshavin last season and he was a good signing. Two years before it was (Emmanuel) Adebayor so we have made some good acquisitions in January. But it is more difficult than in the summer."

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